Asset sales within the energy industry continue to be the nameof the game as the winter heating season begins to set in. Two ofQuestar Corp.’s subsidiaries are the latest participants, as theyhave entered into agreements to sell working interests in oil andgas producing properties in Oklahoma and northern Texas as well asan Oklahoma gas-gathering system. Chesapeake Energy Corp. hasagreed to acquire the assets from Questar Exploration andProduction and Questar Gas Management for $27 million dollars. Thesale includes working interests in 290 properties with a currentcombined net production of about 4.3 MMcf/d and 180 b/d. Theagreement was effective on the first of this month, and thecompanies hope to close the deal by Dec. 31, 2000. The producingproperties do not have long-term strategic importance to Questar,said Gary Nordloh, president of Questar Exploration and Production.The asset sale will help improve operating efficiency and result inan immediate decrease in Questar’s amortization rate, he added.
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Phillips, Apache To Market Canadian Assets
With oil and natural gas prices soaring, the market for Canadianproducing and development properties has been heating up, asevidenced by property sales announced recently by PhillipsPetroleum and Apache Canada.
Phillips, Apache To Sell Canadian Assets
With oil and natural gas prices soaring, the market for Canadianproducing and development properties has been heating up, asevidenced by property sales announced recently by Phillps Petroleumand Apache Canada.
EEA Sees Henry Hub Gas Averaging Nearly $5 for Winter
The probability that Henry Hub natural gas will average $5/MMBtuduring this winter heating season is 50%, while the chance forprices rising to $6/MMBtu is 20% if the weather is 5% colder thanaverage, according to Energy and Environmental Analysis Inc. (EEA).
EEA Sees Near-$5 Henry Hub Gas for Winter
The probability that Henry Hub natural gas will average $5/MMBtuduring this winter heating season is 50%, while the chance forprices rising to $6/MMBtu is 20% if the weather is 5% colder thanaverage, according to Energy and Environmental Analysis Inc. (EEA).
Short-Covering, Mini-Rally Does Little to Dissuade Bears
Buoyed by cold weather in the Northeast U.S. and in sympathywith higher heating oil prices, natural gas futures checked higherin light holiday trading Monday as traders covered shorts initiatedin last week’s sell-off. At the closing bell the November contractwas 14.2 cents higher at $5.15.
AGL Resources Acquires Virginia Natural Gas
AGL Resources Inc. has closed on its $533 million acquisition ofVirginia Natural Gas, more than two months ahead of schedule andprior to the start of the winter heating season.
In Concert with Oil, Gas Futures Funnel Lower into Bidweek
Amid easing concerns over a heating oil crisis this winter andsofter crude oil prices, natural gas futures were lower for thethird session in a row Friday as longs headed for the exits aheadof the weekend.
Pipeline Competition in Rocky Mountain Region Heats Up
Pipeline competition in the Rockies is heating up with a newpipeline project launched last week by Williams and changes to aplanned extension announced by rival Trailblazer Pipeline.
Pipeline Competition in Rockies Heats Up
Pipeline competition in the Rockies is heating up with a newpipeline project launched yesterday by Williams and changes to aplanned extension announced by rival Trailblazer Pipeline.
